Buying bitcoin has always been so strenuous. While you think about buying bitcoins you will have to look up to so many things such as security, safety, maintenance, etc. If you think about buying it from a secure place then what can be more convincing than Australia? You can buy bitcoins from the heart of the city like from Sydney, Melbourne & Adelaide as well.
When it comes to buying and selling bitcoins Australia has the most options available. The article mainly focuses on the current situation of the Australian market of bitcoin; you can learn more from Bitcoindealers.com.au.
Drop in buying price
You should consider buying bitcoin this year because the cryptocurrency market has taken an extraordinary turn to the wheels in 2020. The coronavirus pandemic has left the world to some major problems. The cryptocurrency price has dropped to 5,000 euros from 10,000 euros. It is a great opportunity for bitcoin enthusiasts to grab a couple of coins to stock up on this asset. Once the pandemic comes to an end the bitcoin price will extensively increase. It is expected to even go beyond 10,000 euros. So, it is the best possible chance to buy bitcoins.
If you want to invest in bitcoins then you should consider buying it in person rather than buying them online. There are different places where you can buy bitcoin with following simple proceedings. All you need to do is to pay with cash for the expected amount of bitcoins and it will be transferred to your account. It is the simplest process you can get.
Introduction of rules and regulations in the crypto market
Secondly, the technology is extremely well-developed compared to the previous two years. The development in the technology sector for cryptocurrencies is attracting people to invest in bitcoins. Therefore, the market is becoming very promising this year. Moreover, governments are trying to continue the regulatory foundation for this process. As a result, the volatility will be dissolved. So, if you are thinking about buying bitcoins, now is the best time.
Buy from places with low transactional fees
Different companies will give you the best services. There are companies where you can get a low trading rate of only 0.2% and you can pay via credit cards or bank transfers. Some places have transaction fees up to 6% for the customers who buy bitcoins with credit or debit cards. Hence, you can avoid those places and focus on the others where you can get the best exchange.
Means of quick loan
If you require quick cash for an emergency you can always go for bitcoin loans. Big bitcoin holders prefer to take loans by using their bitcoin as collateral instead of selling them. Selling your bitcoin at a low rate will not be a wise decision. You never know you can get twice of it in the future as the price keeps increasing and decreasing by depending on the situation. In the year 2020, the pricing is lesser than the previous years but in March 2020 it starts growing slightly.
Expected rise in value of bitcoins
This pandemic has also affected the bitcoin market like other businesses but the market is showing signs of growth. Australia is a small bitcoin market in comparison to the US, Europe, and Asia but it is expanding rapidly in its region. In 2020 the value of bitcoin is positioned as an alternative option as the fiat currency transactions have been stopped for a couple of months because of the pandemic.
Increase in popularity
Being a digital currency, bitcoin can be spent like money and can be moved to anywhere in the world. Therefore, people are becoming more interested in bitcoins nowadays. You can trade with bitcoin in different sectors. Merchants accept bitcoin transactions from bars, hotels, restaurants, and also subway Australia the largest merchant accepting bitcoin with 1400 stores. Retailers who accept bitcoins are located in the biggest cities in the country.
Security is the main concern
For a bitcoin trader, security, fees, and liquidity of the exchange are likely to be important. Just transferring bitcoin from one place to another is risky. As it involves the internet for the transaction process so it is not safe to store your bitcoin just anywhere. You should consider buying a bitcoin wallet to give your bitcoins cold storage. There are companies like bitcoin ATMs that provide the highest security to the bitcoins by taking necessary steps.
If it is your first-time purchasing bitcoins then you should keep researching and learning about it as much as possible. The key factor to buy bitcoin is to buy it from a reputable exchange. The best coins have the softest best markets. Unless the network of crypto gets a surge in a transaction it can’t catch up with the highest cryptocurrencies. For example, Ethereum tends to be small so, to surpass bitcoin it has to make more transactions and attract a greater number of customers. On the other hand, bitcoin heads back to 20 billion of network transfers.
So, the price of bitcoins goes up with its network. You should consider buying cryptocurrencies by learning about its network valuation. There are in total of 23 bitcoin ATMs. The fees for the bitcoin sale are slightly as low as 1.5% of the total value of the bitcoins being sold in a particular sale.
Some people think the idea of cryptocurrency is a scam. The rapid response among people about the bitcoin speaks otherwise. Perhaps the idea of bitcoins is less widespread in Australia compared to other countries but it is increasing time after time. The crisis might affect the bitcoins market widely but we should focus on the long term. Trading through bitcoins can be a very profitable endeavor when the price tends to be volatile. So, you should considerably take the chance as long as you have it.